Barter is a system of exchange in which people directly trade one good for another, without using money as an intermediate step.
Answer the following statement true (T) or false (F)
True
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
In recent years, a monetary growth rule has fallen out of favor because
A) the close relationship between movements in M1 and movements in real GDP has become weaker. B) it is believed that active monetary policy destabilizes the economy and makes the business cycle worse. C) the growth rate of GDP has been highly unstable. D) the growth rate of M1 has become more stable.
In high-inflation countries, workers prefer to spend their income faster compared to low-inflation countries
a. True b. False Indicate whether the statement is true or false
If the total utility derived is 20 utils from two glasses of lemonade and 24 utils from three glasses of lemonade, the marginal utility of the third glass is _____
a. 4 utils b. 6 utils c. 20 utils d. 24 utils